As discussed in last analysisNow Bears need to break 19200 for move to continue towards 19044/18915/18769. Bulls need to move above 19683 for a move towards 19925/20164. 06 May is important astro date and also neural turn date. Bank Nifty did almost 2 target and saw a strong reversal.As we have weekly expiry tommrow , Bulls need to move above 19810 for a move towards 20000/20225. Bears need to break 19370 for move to continue towards 19154/19000/18769.
Bank Nifty May Future Open Interest Volume is at 14.7 lakh with addition of 0.94 Lakh, with increase in Cost of Carry suggesting shorts positions were added today. Bank nifty Rollover cost @20762 closed below it
20000 CE is having highest OI @6 Lakh resistance at 20000 followed 20300.19000-22000 CE added 12 Lakh in OI so bears added position in the zone of 20000-21500.
19000 PE is having highest OI @2.9 Lakh, strong support at 19000 followed by 188000.19000-20000 PE added 12 Lakh OI so bulls making support in the range of 19000-18800.